NCLT rejects Mistry's plea, imposes 10 lakh

The National Company Law Tribunal (NCLT) on Friday, rejected the transfer plea of ousted Tata Sons chairman Cyrus Mistry requesting transference of the case against Tata Sons Ltd to the Delhi bench from Mumbai and penalized them Rs. 10 lakh for filing the petition.

The Tribunal has imposed a cost of Rs 10 lakh on Mistry's two investment firms Cyrus Investments and Sterling Investments.

“The plea is dismissed with a penalty of Rs. 10 lakh to be borne equally by both the companies,” said Justice M.M. Kumar, while pronouncing the order.